Stora Enso has successfully issued a new EUR 300 million, under its EMTN (Euro Medium Term Note) programme. The bond matures in June 2027 and pays a fixed coupon of 2.5%. The issue price was 99.834, equivalent to a yield of 2.519% and Euro Mid-swaps +175 basis points. There are no financial covenants for the bond. The bond will be listed on the Luxembourg Stock Exchange.

Stora Enso is also announcing a tender offer for its outstanding EUR 204 106 000 and EUR 418 781 000 fixed rate notes maturing in 2018 and 2019, respectively (the “Offers”). The cash prices of the Offers are 104.08% for the 2018 notes and 109.87% for the 2019 notes, which correspond a yield of -0.25% and -0.15%, respectively. The Offers expire at 17.00 CEST on 7 June 2017. The settlement date is expected to be 9 June 2017.

The bookrunners for the transactions are Citibank, SEB, and Barclays.

“We are using the momentum of these favourable credit market conditions to extend the maturity profile and at the same time tender our current outstanding shorter maturities. We continue to manage our portfolio efficiently and proactively,” says SVP Treasurer Martin Ros.